The shale gas revolution in the United States has led to a collapse in prices but is too big to keep to ourselves. That is turning natural gas from a domestic market to a global one, and the global demand may cure the current low prices.

The U.S. oil boom has put European refineries out of business and undercut West African crude suppliers. Now domestic drillers threaten to roil Asian markets and challenge producers in the Middle East and South America.

A ragged collection of rain showers off the Yucatan Peninsula may develop into a weak tropical system as it moves over the Gulf of Mexico, prompting some energy operations to evacuate non-essential personnel.

Following several years of stronger-than-expected North American supply growth, the shockwaves of rising U.S. shale gas and light tight oil and Canadian oil sands production are reaching virtually all recesses of the global oil market.

OPEC is showing more concern about the rapid drop in oil prices. While a call from the hawks for a meeting is not unusual, it seems that OPEC special meeting or not will more than likely reign in production unless prices rebound dramatically.